Bring EV financing under priority sector lending: Industry body

Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY 2022-2023 on February 1

Electric vehicles must be considered for priority lending by the government to accelerate their adoption, while sufficient funds must also be allocated for R&D in a public-private partnership mode for development of batteries, industry body SMEV said on Thursday.

In its Budget wish list, the Society Of Manufacturers Of Electric Vehicles (SMEV) also said there is a need to amend the PLI scheme for automobile and auto components, as in its current form there is an "unfair price disadvantage" for small and medium-size EV players in the industry.

"To create a robust ecosystem for electric vehicles and give a boost to the